Infratil keeps charging as AI optimism persists, driving NZX50 higher
New Zealand’s S&P/NZX 50 index climbed for a second day, again powered by Infratil as the infrastructure investor’s major new contract for its CDC data centre unit caught a second wind of artificial intelligence optimism as chipmakers around the world were buoyed by Advanced Micro Devices strong quarterly result.
Gentrack led the benchmark higher, clawing back some of its steep losses this week after its senior leaders fronted investors to explain away the profit warning that wiped more than a third from the utilities software firm’s market value in a single session.
Comvita and Accordant Group both hit their minimum capital raising targets in their respective share sales to bolster their balance sheets, while Me Today advanced after raising its earnings guidance and Bremworth dipped on an extension to closing its proposed sale to Mohawk Industries.
And the New Zealand dollar nudged higher in the broadly upbeat mood through the Asia session, while the Organization for Economic Cooperation and Development delivered its biannual review of the nation’s economy, with a laundry of reliable recommendations to put the trajectory back on the straight and narrow.
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